`Green Entrepreneurship`: An actual reality or a convenient alibi?

The latest developments in the global technology markets; the devastating effects on the environment; the increasing pressure from consumers for better quality and more environmentally friendly products; the enhanced role of NGOs in the global economy; the gradual weakening of the traditional role of the state; the increased contribution of the stakeholders to business ethics and corporate governance; all have led to the emergence of a new enterprise concept of “green entrepreneurship”, as a pragmatic action in support of the environmental dimensions of the foundations of sustainability. It has become clear that gradual evolution of and radical changes in society have differentiated the model of corporate responsibility.

The concept of “being green” is now intertwined with business. Companies are encouraged to adopt the concept of «triple net effect» by undertaking voluntary social and environmental responsibility actions, alongside their financial operation. All these aspects are combined harmoniously toward more productive and profitable enterprises in relation to sustainability and responsibility. It is a competitive advantage in today's business, since it interlinks principles, values, social and environmental initiatives and cultural issues, constituting a conscious commitment to sustainable development.

However, the decision for taking the “green” road ahead still lies exclusively with the entrepreneur; measures towards “green” business cost. It is indeed a long-term investment, in the sense that it is not imminently refundable, aside from providing an improvement to the company’s image that can possibly attract new clients and that being apparent only in environmentally conscious target groups. Standing still than going “green”, does not really pose any danger for the entrepreneur, since this has been the common practice in business until recently. Adopting “green” strategies though, does appear to give added value, which is reflected in terms of development and profit.

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